MELI

Apple's Earnings Performance: Apple Inc. reported fiscal third-quarter revenue of $94 billion and earnings of $1.57 per share, surpassing analyst expectations, while its stock saw a slight decline of 0.2% to $202.92.

Other Notable Trades: Jim Lebenthal highlighted PG&E Corporation despite missing earnings estimates, while Joe Terranova mentioned MercadoLibre, which beat revenue expectations but missed earnings estimates; both stocks experienced minor fluctuations in their prices.

Market Performance: Major US stock indexes closed lower on Tuesday, influenced by disappointing US services activity and persistent price pressures, despite initial gains driven by strong technology earnings, particularly from Palantir Technologies.

Economic Indicators and Fed Speculation: The US trade deficit for June was smaller than expected, contributing positively to Q2 GDP, while speculation about potential interest rate cuts by the Federal Reserve increased significantly following recent weak economic reports.

Market Performance: Stocks declined on Tuesday due to renewed stagflation fears, with the S&P 500 dropping 0.3% and the Nasdaq 100 falling 0.4%, while Palantir Technologies saw a significant stock increase of over 8% after exceeding earnings expectations.

Economic Indicators: The ISM Services PMI fell to 50.1%, indicating weak economic expansion, alongside rising inflationary pressures as the ISM Prices Index surged to its highest level since November 2022; meanwhile, the U.S. trade deficit narrowed to $60.2 billion in June.